- BTC, ETH, and LTC can be transferred using PayPal across exchanges.
- No transaction fees for sending & receiving between PayPal users.
The most requested feature among the Paypal users has now gone live yesterday. The selected US members can now directly transfer Bitcoin, Bitcoin Cash, Ethereum, and Litecoin to others, and US users will be able to access it in the coming days.
Paypal became the first application to receive a license by the New York Department of Financial Services (NYDFS). The conditional bitlicense is converted to a full bitlicense. The new feature enables users to have transactions in crypto across exchange platforms and also transfer them between the PayPal customers.
Features in New Updation
The major functionality in the update mentioned by Jose Fernandez da Ponte, Senior Vice President and General Manager, Blockchain, Crypto & Digital Currencies, in the official blog is the inclusion of coins that support transfer in the application.
The process of transfer can also be conducted on hardware wallets, which have external devices that hold the storage data. Sending and receiving that is carried out among the PayPal doesn’t have any network or usage charges, the fees are excluded for this mode completely.
Detailed step-by-step instruction is also released by the company for both types of transfer mechanisms, one that happens among PayPal users, and the other that happens between PayPal users and alien exchanges.
